Pre-tax profit doubles at DFS
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DFS
14
Mar

Pre-tax profit doubles at DFS

Pre-tax profit has more than doubled in the interim results for furniture retailer DFS, with like-for-like revenue growing across all four of its brands.

The listed company reported a pre-tax profit of £14.1m for the 22 weeks ended 30 December 2018, up from £6.2m in the same period of 2017.

Group revenue also increased to £422.3m, up 29.1 per cent from £327.1m the year before.

DFS also opened a net three showrooms during the period, and achieved strong online growth supported by continued investment.

The company added that it continued with its Brexit preparations, citing consumer confidence and border delays as the primary risks.

Tim Stacey, group chief executive of DFS, said: "We are pleased with the performance for the first five months of the financial year across the group, with all four of our brands achieving like-for-like revenue growth. 

"The benefits of our investments in our online channels, delivery networks and the development of our brands help mitigate the impact of a market which we expect to remain particularly challenging in 2019 given the current political and economic uncertainty. Notwithstanding a softer start to 2019, and assuming no weakening of this environment, our profit expectations for the financial year remain unchanged."

 

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